The general topic of estate planning may be difficult for some to bring up or think much about. However, anyone who has any kind of assets may benefit from learning more about the process and what it entails, especially the important decisions that must be made. Anyone in Michigan who has not begun the process of putting together an estate plan may want to consider some of the following factors.
It is vital to understand the role of an executor when choosing one. An executor will have a tremendous amount of duties and it is best to prepare the person chosen ahead of time. The executor will have to handle paying debts of the estate, dealing with tax issues and also the actual distribution of assets left to beneficiaries.